morpheiz
Jul 6th, 2012, 04:37 PM
I'm trying to figure out the book value for tax purposes. In Jan 2011, my sister left the country and had to close her TD Private Client Services account. She had some shares of SLF and BCE and some mutual funds and they were transferred to me under my name to my TD Waterhouse Discount Brokerage Account. I don't have any more details of the transfer and when I ask her, she doesn't seem to know or remember the technical details. There were some forms she filled out and I signed them.
On that Jan 2011 statement, BCE has a Book Value of what it seems like when she purchased it at a very low price. For my taxes, what $ did I pay for these BCE shares? Her original book value or the price they were at in Jan 2011?
SLF has N/A under Book value. I've tried very hard to contact Discount Brokerage and Private Client Services to inquire about the actual book value and they said all the account info of the closed account is purged. Gave me the runaround and asked I try to contact Discount Brokerage to open a request to the back office to dig up the data but it will cost me a lot per hour to find out this information. I have a friend who works at Waterhouse and he tried to get it for me but still couldn't. So for tax purposes, can I list the cost based on the price in Jan 2011 of my account statement?
Thirdly, there is a Altimira high interest savings mutual fund that is a DRIP. The unit cost is always $1 but the DRIP gives me more shares of it at $1. In Jan 2011, the book value listed is the exact same as the market value. In fact, the book and market is the same in every future and current statement! It just updates the book value after it reinvests the dividend! For tax purposes, can I list the cost based on the price in Jan 2011 of my account statement? Because I acquired the units all at $1 and i'm selling it all at $1, I guess this makes sense.
Many thanks in advance.
On that Jan 2011 statement, BCE has a Book Value of what it seems like when she purchased it at a very low price. For my taxes, what $ did I pay for these BCE shares? Her original book value or the price they were at in Jan 2011?
SLF has N/A under Book value. I've tried very hard to contact Discount Brokerage and Private Client Services to inquire about the actual book value and they said all the account info of the closed account is purged. Gave me the runaround and asked I try to contact Discount Brokerage to open a request to the back office to dig up the data but it will cost me a lot per hour to find out this information. I have a friend who works at Waterhouse and he tried to get it for me but still couldn't. So for tax purposes, can I list the cost based on the price in Jan 2011 of my account statement?
Thirdly, there is a Altimira high interest savings mutual fund that is a DRIP. The unit cost is always $1 but the DRIP gives me more shares of it at $1. In Jan 2011, the book value listed is the exact same as the market value. In fact, the book and market is the same in every future and current statement! It just updates the book value after it reinvests the dividend! For tax purposes, can I list the cost based on the price in Jan 2011 of my account statement? Because I acquired the units all at $1 and i'm selling it all at $1, I guess this makes sense.
Many thanks in advance.